Danaher (NYSE:DHR) Price Target Raised to $270.00 at Bank of America

Danaher (NYSE:DHR) had its price target hoisted by Bank of America from $258.00 to $270.00 in a report released on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the conglomerate’s stock.

A number of other analysts have also weighed in on the stock. Raymond James raised their price target on shares of Danaher from $240.00 to $270.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Barclays raised their price target on shares of Danaher from $260.00 to $270.00 and gave the company an equal weight rating in a report on Wednesday. Robert W. Baird raised their price target on shares of Danaher from $259.00 to $271.00 and gave the company an outperform rating in a report on Wednesday. Citigroup raised their price target on shares of Danaher from $255.00 to $280.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, StockNews.com lowered shares of Danaher from a buy rating to a hold rating in a report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Danaher currently has an average rating of Moderate Buy and an average price target of $270.00.

Danaher Stock Performance

NYSE DHR opened at $250.41 on Wednesday. The firm has a market cap of $185.44 billion, a price-to-earnings ratio of 42.44, a PEG ratio of 4.24 and a beta of 0.83. The company has a 50 day moving average of $249.00 and a 200-day moving average of $230.78. The company has a current ratio of 1.68, a quick ratio of 1.37 and a debt-to-equity ratio of 0.31. Danaher has a 1-year low of $182.09 and a 1-year high of $259.00.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.20. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.62 billion. Danaher had a net margin of 16.78% and a return on equity of 11.48%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $2.36 earnings per share. On average, equities analysts forecast that Danaher will post 7.62 earnings per share for the current fiscal year.

Danaher Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.43%. This is a boost from Danaher’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, March 27th. Danaher’s dividend payout ratio (DPR) is currently 18.31%.

Insider Transactions at Danaher

In other news, Director Teri List sold 3,289 shares of Danaher stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.32, for a total transaction of $816,724.48. Following the transaction, the director now directly owns 19,726 shares of the company’s stock, valued at $4,898,360.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Daniel Raskas sold 23,757 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $252.00, for a total value of $5,986,764.00. Following the sale, the senior vice president now directly owns 38,102 shares of the company’s stock, valued at approximately $9,601,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Teri List sold 3,289 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.32, for a total transaction of $816,724.48. Following the completion of the sale, the director now directly owns 19,726 shares in the company, valued at $4,898,360.32. The disclosure for this sale can be found here. Insiders have sold a total of 32,957 shares of company stock valued at $8,265,802 over the last three months. 11.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Danaher

Several institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in Danaher by 0.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 58,133 shares of the conglomerate’s stock valued at $14,517,000 after acquiring an additional 474 shares in the last quarter. Leavell Investment Management Inc. lifted its position in Danaher by 6.8% in the 1st quarter. Leavell Investment Management Inc. now owns 8,865 shares of the conglomerate’s stock valued at $2,216,000 after acquiring an additional 563 shares in the last quarter. Patton Albertson Miller Group LLC lifted its position in Danaher by 7.2% in the 1st quarter. Patton Albertson Miller Group LLC now owns 39,705 shares of the conglomerate’s stock valued at $9,915,000 after acquiring an additional 2,655 shares in the last quarter. Zhang Financial LLC lifted its position in Danaher by 8.6% in the 1st quarter. Zhang Financial LLC now owns 1,750 shares of the conglomerate’s stock valued at $437,000 after acquiring an additional 138 shares in the last quarter. Finally, Family Legacy Inc. lifted its position in Danaher by 3.2% in the 1st quarter. Family Legacy Inc. now owns 5,554 shares of the conglomerate’s stock valued at $1,387,000 after acquiring an additional 172 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.